BidaskClub upgraded shares of Incyte (NASDAQ:INCY) from a sell rating to a hold rating in a report released on Saturday.
INCY has been the topic of a number of other research reports. Zacks Investment Research lowered Incyte from a buy rating to a hold rating in a research report on Thursday, April 19th. JPMorgan Chase & Co. reduced their price objective on Incyte from $96.00 to $88.00 and set an overweight rating on the stock in a research report on Tuesday, April 24th. Raymond James restated a buy rating on shares of Incyte in a research report on Tuesday, May 1st. Credit Suisse Group reduced their price objective on Incyte from $146.00 to $76.00 and set an outperform rating on the stock in a research report on Monday, April 9th. Finally, Piper Jaffray Companies assumed coverage on Incyte in a research report on Wednesday, May 30th. They set a buy rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $110.62.
Shares of INCY stock opened at $66.73 on Friday. The firm has a market cap of $15.69 billion, a P/E ratio of 104.27 and a beta of 0.75. Incyte has a twelve month low of $60.22 and a twelve month high of $140.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.84 and a current ratio of 3.86.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.08. The business had revenue of $382.28 million for the quarter, compared to analyst estimates of $384.03 million. Incyte had a negative return on equity of 0.74% and a negative net margin of 10.90%. Incyte’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. equities research analysts expect that Incyte will post 0.41 EPS for the current fiscal year.
In other Incyte news, EVP Paula J. Swain sold 80,000 shares of Incyte stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $62.43, for a total transaction of $4,994,400.00. Following the transaction, the executive vice president now directly owns 39,467 shares of the company’s stock, valued at approximately $2,463,924.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Herve Hoppenot bought 15,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were bought at an average cost of $60.94 per share, for a total transaction of $914,100.00. The disclosure for this purchase can be found here. 17.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in shares of Incyte by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock valued at $159,304,000 after purchasing an additional 7,463 shares during the period. Virtus Fund Advisers LLC acquired a new position in shares of Incyte in the 4th quarter valued at about $956,000. American International Group Inc. lifted its stake in shares of Incyte by 20.1% in the 4th quarter. American International Group Inc. now owns 78,092 shares of the biopharmaceutical company’s stock valued at $7,396,000 after purchasing an additional 13,055 shares during the period. Ontario Teachers Pension Plan Board lifted its stake in shares of Incyte by 93.3% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 5,193 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 2,507 shares during the period. Finally, Norinchukin Bank The lifted its stake in shares of Incyte by 10.2% in the 4th quarter. Norinchukin Bank The now owns 14,004 shares of the biopharmaceutical company’s stock valued at $1,326,000 after purchasing an additional 1,296 shares during the period. 92.01% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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